Oberoi plans China foray
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With a US$22.3 million bankroll for expansion plans through 2011, Oberoi is first aiming for China, with company officials reportedly planning to visit Shanghai and Beijing soon.
“We want to have a foot in China and cannot miss out on the opportunity that this growing market offers,” an Oberoi executive told Economic Times.
The company has recently signed management contracts for properties in Dubai, Abu Dhabi, Cambodia and Maldives. It currently has 21 properties in India and 11 across Mauritius, Indonesia, Egypt and Saudi Arabia.
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